Savings Investment Insurance Policy definition

Savings Investment Insurance Policy means an insurance policy taken out by any Borrower, in connection with a Switch Mortgage Loan, comprised of a risk insurance element and a capital insurance element which pays out a certain amount on an agreed date or, if earlier, upon the death of the insured life and whereby a Borrower may switch part or all premia accumulated in a Savings Alternative into an Investment Alternative and vice versa;
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Savings Investment Insurance Policy means an insurance policy taken out by any Borrower, in connection with a [Switch / Hybrid Mortgage Loan] [Life Mortgage Loan with a Savings Element], comprised of a risk insurance element and a capital insurance element which pays out a certain amount on an agreed date or, if earlier, upon the death of the insured life;[“Savings Mortgage Loan”] means a mortgage loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the relevant Savings Insurance Company; [“Savings Mortgage Receivable”] means the Mortgage Receivable resulting from a Savings Mortgage Loan;
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Examples of Savings Investment Insurance Policy in a sentence

  • Switch Mortgage LoansA Switch Mortgage Loan is combined with a Savings Investment Insurance Policy, which consists of a combined risk and capital insurance policy taken out by the Borrower with Interpolis in connection with the relevant Switch Mortgage Loan.

  • Subject to Clause 3 of the Parallel Debt Agreement and Clauses 12, 13 and 14 of the Trust Deed, the Insurance Savings Participant shall effect payments under the Savings Insurance Policy and the Savings Investment Insurance Policy, respectively, related to Savings Mortgage Loans and Savings Investment Mortgage Loans, respectively, which are subject to an Insurance Savings Participation, where reasonably possible and to the extent permitted, to the CBC by way of set-off.

  • Insurance Savings Participation AgreementUnder the terms of the Insurance Savings Participation Agreement, the Insurance Savings Participant will acquire participations in the relevant Savings Mortgage Receivables or Switch Mortgage Receivables with a Savings Alternative equal to amounts of Savings Premium paid by the relevant Borrower to the Insurance Savings Participant in respect of a Savings Insurance Policy or Savings Investment Insurance Policy (including accrued interest thereon).

  • Furthermore, the Insurance Savings Participant shall in so far as possible not pay any amount due under the Savings Insurance Policy and the Savings Investment Insurance Policy related to Savings Mortgage Loans and Savings Investment Mortgage Loans, respectively, which are subject to an Insurance Savings Participation to the Borrowers, but to the CBC, by way of set-off.

  • If and to the extent that the amount for which a Borrower successfully invokes set-off or defences would exceed the Insurance Savings Participation, such set-off or defences could lead to losses under the Covered Bonds The Insurance Savings Participation Agreement will apply to the Switch Mortgage Receivables only to the extent that Savings Premium is deposited or accumulated in a savings part of the Savings Investment Insurance Policy connected thereto.

  • In the case of Portfolio Mortgage Loans including a Life Mortgage Loan, Savings Mortgage Loan or a Hybrid Mortgage Loan such Risk Insurance Policy may be included in the relevant Life Insurance Policy, Savings Insurance Policy or Savings Investment Insurance Policy.

  • A Savings Insurance Policy or Savings Investment Insurance Policy is a combined risk and capital insurance policy taken out by the relevant Borrower with an Insurance SavingsParticipant or Insurance Company, as applicable, in connection with the relevant Savings Mortgage Loan or Hybrid Mortgage Loan.

  • ASR Levensverzekering N.V. in respect of Savings Mortgage Receivables and Hybrid Mortgage Receivables to which a Savings Insurance Policy or a Savings Investment Insurance Policy is connected with ASR Levensverzekering N.V. and (ii) in respect of all other Savings Mortgage Receivables and Hybrid Mortgage Receivables, the relevant Seller which has sold the relevant Savings Mortgage Receivable or Hybrid Mortgage Receivable, as applicable.

  • Each of the Credit Rating Agencies is established in the European Union and is registered under the CRA Regulation.Savings Mortgage ParticipantsObvion with respect to Switch Mortgage Loans and Savings Mortgage Loans to which a Savings Investment Insurance Policy or Savings Insurance Policy of Interpolis is connected; andObvion with respect to Bank Savings Mortgage Loans.

  • A Hybrid Mortgage Loan is a Hybrid Mortgage Loan in which Savings Premium is accumulated or deposited in a savings part of the Savings Investment Insurance Policy connected thereto.

Related to Savings Investment Insurance Policy

  • Life Insurance Policy has the meaning given in Section 6.10.

  • Reimbursement insurance policy means a policy of insurance

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Blanket insurance policy means a group policy covering a defined class of

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Life insurance means insurance coverage on human lives including benefits of endowment and annuities, and may include benefits in the event of death or dismemberment by accident and benefits for disability income and unless otherwise specifically excluded, includes individually issued annuities.

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Credit unemployment insurance means insurance:

  • Health insurance policy means a policy that provides specified benefits for hospital and/or general treatment and meets all requirements under section 63-10 of the Private Health Insurance Act 2007.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance Policies has the meaning set forth in Section 3.16.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)

  • Insurance premium finance company means a person engaged in the business of

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • Insurance Company The Transferee is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a state, U.S. territory or the District of Columbia.

  • Company Insurance Policies has the meaning set forth in Section 4.15.

  • Insurance Companies means the companies with whom the Insurance Policies are held.

  • Group long-term care insurance means a long-term care insurance policy which is delivered or issued for delivery in this State and issued to:

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Certificate Insurance Policy The Certificate Guaranty Insurance Policy No. AB1094BE, dated the Closing Date, including any endorsements thereto issued by the Certificate Insurer to the Trustee for the benefit of the Holders of the Insured Certificates, a form of which is attached as Exhibit L hereto.

  • Specified Insurance Company means any Entity that is an insurance company (or the holding company of an insurance company) that issues, or is obligated to make payments with respect to, a Cash Value Insurance Contract or an Annuity Contract.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Investment Policy means the investment policy from time to time determined by the Commission under the Rules;

  • Investment Plan means the document in terms of which the special purpose vehicle will invest in unlisted investments and all matters incidental thereto;

  • Ocean marine insurance means insurance against loss of or damage to: